BANGLADESH RESEARCH PUBLICATIONS JOURNAL

ISSN: 1998-2003, Volume: 8, Issue: 1, Page: 89-95, January - February, 2013

BANKING SCENARIOS IN BANGLADESH

M. J. A. Siddikee1, S. Parvin1 and M. S. Hossain2
M. J. A. Siddikee, S. Parvin and M. S. Hossain (2013 Banking Scenarios in Bangladesh. Bangladesh
Res.
Pub.
J.
8(1):
89-95.
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from
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Abstract
The study focuses on banking system in Bangladesh. Banking sector as the major
sector contribute to the national economy. The business of banking is expanding
in Bangladesh and the activities of bank are being explored to serve the clients.
The study
has been made based on using information taken from annual
reports of Government Banks, the Commercial Banks, Islamic Banks and Foreign
banks, and information taken from different journal, articles, publication paper,
and other sources. It has been emphasized and tried in a great manner to find
out the true picture of banking industry in Bangladesh. However, there are a lot
of secret matters in the banking sectors. As it the researcher cannot reach to
secret information that was needed for the core analysis .

Key words: Bank, Business, service product, deposit and activity.

Introduction
Banks are among the most important sources of short term working capital for
businesses and have become increasingly active in recent years in making long-term
business loans (Rose & Hudgins, 2005). The main function of a commercial bank is to
mobilize deposits and to provide loans to people and organizations to finance their
consumptions and business activities. Thus banks encourage the flow of money to
productive use and investment which accelerates the flow of economic growth (Ashraf
Ali & Howlader, 2005). Shahid, Banerjee & Mamun (2004) state that the economy of
Bangladesh has been growing gradually and as such it needs the support of a financial
structure. Samina and Alam (2011) state that Banking industry in Bangladesh up to now is
leading the financial system. Based on the time of inception all the commercial banks
have been divided into three generations. Banks of all the three generations are
introducing new and new products to meet the dimensional demands of customers. After
the liberation, the Bangladesh government initially nationalized the entire domestic
banking system by Presidential Order No. 26 titled Bangladesh Banks Nationalization
Order, 1972 and proceeded to reorganize and rename the various banks. Foreign owned
banks were permitted to continue doing business in Bangladesh .At birth, Bangladesh
inherited an interest based banking system, which was introduced here earlier when the
country was a part of British Colony. Since its inception Bangladesh saw a new trend in
banking both at home and abroad. Islamic banking was successfully tries in Egypt. After
the Mit Ghamar Model, Naser Social Bank was in the process of establishment (Sarker).
The Banking sector in Bangladesh is different from the banking as seen in other developed
countries. This is one of the Major Service sectors in Bangladesh economy, which divided
into four categories of scheduled Banks. These are Nationalized Commercial Banks
(NCBs), Government Owned Development Financial Institutions (DFIs), Private Commercial
Banks (PCBs), and Foreign Commercial Banks (FCBs). Banks across the globe have
received the considerable amount of pressure from its diverse stakeholders including
shareholders, investors, media, NGOs and customers (Bhattacharya et al., 2004 ;) to carry
out business in a responsible and ethical manner. Siddique and Islam (2001) states that
Banking sector of Bangladesh is one of the major sectors, which contributes significantly to
Corresponding authors email: msiddikee@yahoo.com
1Department of Finance and Banking, and 2Department of Marketing,
Hajee Mohammad Danesh Science and Technology University, Dinajpur, Bangladesh

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the national economy. The sector comprises a number of banks in various categories. As
bank is service is always treat as a pure service. Services have some exceptional
characteristics that make them different from physical products (Zeithaml and Bitner,
1996). A bank connects customers with capital deficits to customers with capital surpluses.
Bangladesh Bank supervises and regulates the countrys banking sector where it has
significant improvements (Ahmed, 2006). Green (1989) revealed that a bank's
responsibility extends to Government, customers, shareholders, staff, and the community.
Companies do have ethical responsibility, but it is not protected by limited liability from
the consequences of their actions. Lyne, Nielson, and Tierney (2009) evaluated and
analyzed10,000 Multilateral Development Banks (MDBs) loans from 1980 to 2000. They
found that (MDBs) dramatically increased social lending for health, education, and safety
nets after 1985. Yet the great powers social policy preferences remained relatively static
from 1980 to 2000. This contradicts the conventional view that powerful states control
International Organizations (IOs). They argued that highly institutionalized IOs like MDBs
require a complete model of possible member-state coalitions encompassing the
preferences of all member statesnot just major powers
Objectives
The study is aimed at knowledge enhancement as well as gathering real life
banking environment in Bangladesh. The objectives of this study are focused i.
ii.
iii.

To introduce with banking business in Bangladesh.

To know the knowledge of banking activities practically.
To know the overview activity of prime bank limited

Methodology
The study is a descriptive research in nature and thus it is really made on the
information from secondary sources of data. Yet, this study has the implications of
primary data based on personal observation of banking of banking policies, discussion
with the stakeholders of bank from different departments. Secondary data has the
major implications in the study to be prepared. Secondary data were gathered from
the annual reports of banks, relevant published books, journal, newspapers etc. Private
commercial banks: Islamic and traditional, public commercial banks, foreign commercial
banks, specialized development Banks, grammeen bank and the central bank of
Bangladesh had been included in this study.
Results and Discussion
Concept of bank
Bank is the financial institution that deals with money and money worth
instruments. A bank is a financial intermediary that accepts deposits and channels those
deposits into lending activities, either directly or through capital markets. A bank is a
financial establishment which uses money deposited by customers for investment, pays it
out when required, makes loans at interest Oxford Dictionary (2008). "Banking means
the accepting, for the purpose of lending or investment, of deposits of money from the
public, repayable on demand or otherwise, and withdrawable by cheque, draft, order or
otherwise According to Section 5(b) of Banking Regulation Act, 1949. "A bank is an
establishment which makes to individuals such advances of money as may be required
and safely made, and to which individuals entrust money when not required by them for
use According to Professor Kinley.
Brief history of Banking in Bangladesh
The banking history of Bangladesh (super Admin, 2006): The banking system at
independence consisted of two branch offices of the former State Bank of Pakistan and
seventeen large commercial banks, two of which were controlled by Bangladeshi
interests and three by foreigners other than West Pakistanis. There were fourteen smaller
commercial banks. Virtually all banking services were concentrated in urban areas. The
newly independent government immediately designated the Dhaka branch of the State
Bank of Pakistan as the central bank and renamed it the Bangladesh Bank. The bank was
responsible for regulating currency, controlling credit and monetary policy, and
administering exchange control and the official foreign exchange reserves. The
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Bangladesh government initially nationalized the entire domestic banking system and
proceeded to reorganize and rename the various banks. Foreign-owned banks were
permitted to continue doing business in Bangladesh. The insurance business was also
nationalized and became a source of potential investment funds. Cooperative credit
systems and postal savings offices handled service to small individual and rural accounts.
The new banking system succeeded in establishing reasonably efficient procedures for
managing credit and foreign exchange. The primary function of the credit system
throughout the 1970s was to finance trade and the public sector, which together
absorbed 75 percent of total advances. The government's encouragement during the
late 1970s and early 1980s of agricultural development and private industry brought
changes in lending strategies. Managed by the Bangladesh Krishi Bank, a specialized
agricultural banking institution, lending to farmers and fishermen dramatically expanded.
The number of rural bank branches doubled between 1977 and 1985, to more than 3,330.
Denationalization and private industrial growth led the Bangladesh Bank and the World
Bank to focus their lending on the emerging private manufacturing sector. Scheduled
bank advances to private agriculture, as a percentage of sectoral GDP, rose from 2
percent in FY 1979 to 11 percent in FY 1987. No sound project-appraisal system was in
place to identify viable borrowers and projects. Lending institutions did not have
adequate autonomy to choose borrowers and projects and were often instructed by the
political authorities. In addition, the incentive system for the banks stressed disbursements
rather than recoveries, and the accounting and debt collection systems were inadequate
to deal with the problems of loan recovery. It became more common for borrowers to
default on loans than to repay them; the lending system was simply disbursing grant
assistance to private individuals who qualified for loans more for political than for
economic reasons. The rate of recovery on agricultural loans was only 27 percent in FY
1986, and the rate on industrial loans was even worse. As a result of this poor showing,
major donors applied pressure to induce the government and banks to take firmer action
to strengthen internal bank management and credit discipline. As a consequence,
recovery rates began to improve in 1987. The National Commission on Money, Credit, and
Banking recommended broad structural changes in Bangladesh's system of financial
intermediation early in 1987, many of which were built into a three-year compensatory
financing facility signed by Bangladesh with the IMF in February 1987. One major
exception to the management problems of Bangladeshi banks was the Grameen Bank,
begun as a government project in 1976 and established in 1983 as an independent bank.
In the late 1980s, the bank continued to provide financial resources to the poor on
reasonable terms and to generate productive self-employment without external
assistance. Its customers were landless persons who took small loans for all types of
economic activities, including housing. About 70 percent of the borrowers were women,
who were otherwise not much represented in institutional finance. Collective rural
enterprises also could borrow from the Grameen Bank for investments in tube wells, rice
and oil mills, and power looms and for leasing land for joint cultivation. The average loan
by the Grameen Bank in the mid-1980s was around Tk2,000 (US$65), and the maximum
was just Tk18,000 (for construction of a tin-roof house). Repayment terms were 4 percent
for rural housing and 8.5 percent for normal lending operations. The Grameen Bank
extended collateral-free loans to 200,000 landless people in its first 10 years. Most of its
customers had never dealt with formal lending institutions before. The most remarkable
accomplishment was the phenomenal recovery rate; amid the prevailing pattern of bad
debts throughout the Bangladeshi banking system, only 4 percent of Grameen Bank loans
were overdue. The bank had from the outset applied a specialized system of intensive
credit supervision that set it apart from others. Its success, though still on a rather small
scale, provided hope that it could continue to grow and that it could be replicated or
adapted to other development-related priorities. The Grameen Bank was expanding
rapidly, planning to have 500 branches throughout the country by the late 1980s.
Beginning in late 1985, the government pursued a tight monetary policy aimed at limiting
the growth of domestic private credit and government borrowing from the banking
system. The policy was largely successful in reducing the growth of the money supply and
total domestic credit. Net credit to the government actually declined in FY 1986. The
problem of credit recovery remained a threat to monetary stability, responsible for serious
resource misallocation and harsh inequities. Although the government had begun
effective measures to improve financial discipline, the draconian contraction of credit
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availability contained the risk of inadvertently discouraging new economic activity.

Foreign exchange reserves at the end of FY 1986 were US$476 million, equivalent to slightly
more than 2 months worth of imports. This represented a 20-percent increase of reserves
over the previous year, largely the result of higher remittances by Bangladeshi workers
abroad. The country also reduced imports by about 10 percent to US$2.4 billion. Because
of Bangladesh's status as a least developed country receiving concession loans, private
creditors accounted for only about 6 percent of outstanding public debt. The external
public debt was US$6.4 billion, and annual debt service payments were US$467 million at
the end of FY 1986. Bangladesh Bank is the banker to the government as well as to other
banks. It formulates and implements monetary policy, manages foreign exchange reserve
and is the authority to supervise and regulate other banks and non-bank financial
institutions. The financial sector of Bangladesh has gone through a lot of reforms in the
past two decades and central bank reform was a key element of the reform agenda.
Banking industry
The major indicator of the banking system showed improvement during year 2008.
Total deposit and advances of the banking sector increased by 16.03 percent and 18.84
percent respectively in 2008 compared with their 2007 levels. The countrys banking
system remained shield from the global financial turmoil mainly due to low level of global;
integration and good health underpinned by president regulation and sound
management. The major of contribution of this growth came from PCBs, FCBs, and SDBs
showing a consistent growth of loans and deposits. Deposit and Advances position of
banking industry as on 27th November 2008 are as follows: Table 1 showed that the
deposit, credit provided, investment securities and money at call at short notice were
highest in PCBs. Credit Deposit Ratio and Borrowing from Bank were the top in SDBs.
Investment Deposit Ratio was the highest in SCBs.
Table1. Loan and advances position of banking industry (tk in million)
SL

Particulars

Deposit (excluding interbank item)

Demand Deposit
Time Deposit
Credit provided in Bangladesh
Loan and Advances
Inland Bills
Foreign Bills
Credit Deposit Ratio (%)
Investment securities ( Book value)
Investment Deposit Ratio( Percent)
Money at Call at short notice
Borrowing from Bank

3
4
5
6
7

SCBs
4
758.80
194.38
564.42
528.81
474.42
25.22
29.17
69.69%
203.5
26.82%
4.55
.10

PCBs
30

FCBs
9

SDBs
5

Total

1450.68
232.68
1218
1283.66
1207.88
66.94
8.84
88.49%
185.63
12.80%
19.5
25.20

214.1
71.59
142.51
149.46
143.23
3.15
3.08
69.81%
38.66
18.06%
6.94
.03

137.81
17.5
120.31
147
144.98
1.39
.64
106.67%
8.42
6.11%
2.01
62.59

2561.39
516.15
2045.24
2108.93
1970.51
96.69
41.73
82.34%
436.21
17.03%
33
87.92

Source: Brack Bank Limited Annual Report 2008, Weekly Financial Position of Schedule
banks, Bangladesh Bank.
List of banks
The banking system is composed of four state-owned commercial banks, five
specialized development banks, thirty private commercial Banks and nine foreign
commercial banks. The Nobel-prize winning Grameen Bank is a specialized micro-finance
institution, which revolutionized the concept of micro-credit and contributed greatly
towards poverty reduction and the empowerment of women in Bangladesh.
a.
b.
c.
d.
e.

Central Bank
State-owned Commercial Banks
Private Commercial Banks
Foreign Commercial Banks
Specialized Development Banks

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Central Bank: Bangladesh bank

Pursuant to Bangladesh Bank Order, 1972 the Government of Bangladesh
reorganized the Dhaka branch of the State Bank of Pakistan as the central bank of the
country, and named it Bangladesh Bank with retrospective effect from 16 December
1971. Bangladesh Bank (BB) has been working as the central bank since the country's
independence. Its prime jobs include issuing of currency, maintaining foreign exchange
reserve and providing transaction facilities of all public monetary matters. BB is also
responsible for planning the government's monetary policy and implementing it thereby.
The BB has a governing body comprising of nine members with the Governor as its chief.
Apart from the head office in Dhaka, it has nine more branches, of which two in Dhaka
and one each in Chittagong, Rajshahi, Khulna, Bogra, Sylhet, Rangpur and Barisal.
State-owned Commercial Banks
The banking system of Bangladesh is dominated by the 4 Nationalized
Commercial Banks, which together controlled more than 54% of deposits and operated
3388 branches. The nationalized commercial banks are: Sonali Bank, Janata Bank, Argali
Bank and Rupali Bank. And Specialised Bank of Bangladesh are Karmosangesthan Bank
and Bangladesh Krishi Bank.
Private Commercial Banks
Private Banks are the highest growth sector due to the dismal performances of
government banks (above). They tend to offer better service and products. These banks
are AB Bank Ltd, BRAC Bank Limited, Eastern Bank Limited, Dutch Bangla Bank Limited,
Dhaka Bank Limited, Islami Bank Bangladesh Ltd, Pubali Bank Limited, Uttara Bank Limited,
IFIC Bank Limited, National Bank Limited, The City Bank Limited, United Commercial Bank
Limited, NCC Bank Limited, Prime Bank Limited, South East Bank Limited, Al-Arafah Islami
Bank Limited, Social Islami Bank Limited, Standard Bank Limited, One Bank Limited, Exim
Bank Limited, Mercantile Bank Limited, Bangladesh Commerce Bank Limited, Mutual Trust
Bank Limited, First Security Islami Bank Limited, The Premier Bank Limited, Bank Asia Limited,
Trust Bank Limited, Shahjalal Islami Bank Limited, Jamuna Bank Limited,ICB Islami Bank and
Moon Bank Limited.
Foreign Commercial Banks
The foreign commercial banks are Citibank, HSBC, Standard Chartered Bank,
Commercial Bank of Ceylon, State Bank of India, Habib Bank, National Bank of Pakistan,
Woori Bank and Bank Alfalah.
Specialized Development Banks
Out of the specialized banks, two (Bangladesh Krishi Bank and Rajshahi Krishi
Unnayan Bank) were created to meet the credit needs of the agricultural sector while the
other two ( Bangladesh Shilpa Bank (BSB) & Bangladesh Shilpa Rin Sangtha (BSRS) are for
extending term loans to the industrial sector. The Specialized banks are: Grameen Bank,
Bangladesh Krishi Bank, Bangladesh Development Bank Ltd, Rajshahi Krishi Unnayan Bank,
Basic Bank Ltd, Bangladesh Somobay Bank Limited (Cooperative Bank) Ansar VDP Unnyan
Bank and BASIC Bank Limited
Note: Bangladesh Shilpa Bank (BSB) & Bangladesh Shilpa Rin Sangtha (BSRS) have
merged named Bangladesh Development Bank Limited (BDBL), (Source Daily Star)
Products and services of the Bank
Consumer Credit Scheme relates to provide financial assistance to the limited
income group for raising their standard of living by acquiring domestic durables like
Refrigerator, T.V., Washing machine, Furniture, Computer, Motor Car, etc. Consumer
Credit Products relates to Household Durable Loan, Doctors Loan, Any Purpose Loan,
Travel Loan, Car Loan, Advance Against Salary, Education Loan, Marriage Loan and so
on. Deposit Schemes focus Contributory Savings Scheme, Education Savings Scheme,
Short Term Deposit, Double Benefit Deposit Scheme, Resident Foreign Currency Deposit
Account, Non-resident Taka Account, House Building Deposit Scheme, Monthly Benefit
Deposit Scheme, Fixed Deposit Scheme, Lakhopati Deposit Scheme, Foreign Currency
Account etc. Customer Friendly Deposit Schemes focus Pension Savings Scheme,
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Education Savings Scheme, Marriage Savings Scheme, Savers Benefit Deposit Scheme
etc. Loan Schemes focus on General Loan Scheme, Lease financing, House / building
and apartment loan scheme, Small and medium Enterprise, Consumer credit scheme
Hire purchase, Advance against share.
Table 2. Function of bank
Primary or Traditional Functions
Accepting Deposits

1. Fixed Deposits
Account
2. Current Account
3. Saving Account

Functions of Banks
Agency Functions

General Utility Functions

Advancing of
1.
Payment
of 1. Security of Wealth and Assets
Loans
cheques,
bills and letters of credit.
1. Cash Credit 2. Receiving Payment
2. Arrangement of Travellers
for customers
cheques and letter of credit
2. Loans and 3. Payment on behalf
3. Information relating to
Advances
of customers
Economic Position
3. Overdraft
4. Transfer of money
4. Financial Adviser

4. Home Safe Account 4. Discounting 5.Purchase and sale of

of Bills
shares of securities
5. Indefinite Period
6. Deposits Account
7. Other Deposits A/C

5. Publication of Information

6. Function of manager, 6. Accepting of Bills

Trustee and Executor
7.Underwriting Functions 7. Security of loans
8. Other Functions
8. Personal credit
9. Management of Public Debt
10. Share market function
11. Management of Foreign
Exchange

Source: I.V.Trivedi, C.M. Chaudhary and S.B. Kumar

The activities of the banks are usually accomplished by divisional formats. Financial
Control and Accounts Division (FCAD) performs the activities as like financial planning,
budget preparation and monitoring, payment of salary, controlling inter-branch
transaction, disbursement of bills, preparation of annual reports, and so on. International
Division (ID) performs the activities as like agency arrangement and credit line with
correspondent banks, compile and circulate the foreign exchange circulars to the
branches, foreign remittance, controlling test key and authorized signature etc. Credit
and Loan Administration Division focuses on the activities as like loan administration and
disbursement, project evaluation, processing and approving credit proposals of the
branches, documentation,
arranging different credit facilities, providing related
statements to the Bangladesh bank and other departments. Human Resource Division
(HRD) performs the activities related to administration and personnel. The main functions
of HRD are: recruiting, training and development, compensation, employee benefit,
leaves and service rules program and up gradation, placement and performance
appraisal of employees, preparing related reports to the executive committee/ board
on related matters, promotional campaign and press release, plan and manage
human resources and development of human resources, arrange for selection,
recruitment and induction of employees, arrange for promotion of employee
performance appraisal report of the employees, transfer and posting of employees etc.
Information Technology (IT) Departments function are software development, network
management and expansion, software and hardware management, member banks
reconciliation, data entry and processing, procurement of hardware and
maintenance. Branches Control & Inspection Division relate the functions like
controlling different functions of the branches and search for location for expansion,
conducting internal audit and inspection both regularly and suddenly, ensuring
compliance with Bangladesh Bank (BB), monitoring BBs inspection and external audit
reports. Outreach Divisions activities are new product development and marketing
analysis on financial services, mass media, event management and protocol, liability
marketing, improvement of policies and strategies, management information system.
Marketing Division maintains communication with corporate clients. Treasury Division
continues to efficiently manage banks cash flow and optimizes the investment of the
banks excess liquidity and provides quality services and products to meet demand of the
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customer needs and play a major role in raising banks income. Committees and Group
Division reviews the principles, policies rules and gives a decision exercises the power
delegated by the Board from time to time, guidelines regarding deposit, loans, gives
different ideas, decision regarding various issues.
Conclusion
Sound profitability and growth of banks in Bangladesh has a major impact on
internal capital generation. The commercial banking system dominates Bangladesh's
financial sector. Bangladesh Bank is the Central Bank of Bangladesh and the chief
regulatory authority in the sector that control other banks. The activities of bank in
Bangladesh are presenting the increasing trend. In the most sectors the banking operation
plays the significant role for economic development. The technologies are being
associated with banking activities. The activities of banks are not limited to take deposit
and granting loan. Their activities are being specified and being focused on widespread.
In Bangladesh, the banking business is being more competitive as new banks are
being established. Recently, products and services of banks attract the potential
clients to be involved in banking business.
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